What to know:
- Well, bless my soul! BNB has pulled itself up by its bootstraps, rising over 4% from its weekly low and a sprightly 0.7% in the last 24 hours, now strutting around at about $657.
- This little rebound comes as the dust settles from the ruckus between Donald Trump and Elon Musk, who seem to have traded barbs like schoolboys, leaving the market to breathe a sigh of relief.
- But hold your horses! BNB is currently facing a wall at $657, with a critical pivot point at $654, and traders are biting their nails in anticipation of the U.S. inflation data dropping this Wednesday.
Ah, BNB, the darling of the Binance ecosystem, has made a swift return after a market shake-up that had folks clutching their pearls.
This coin has risen more than 4% from this week’s low, and is up around 0.7% in the last 24 hours, bouncing back from a dip to $631 to around $657, forming a V-shaped recovery that would make any mathematician proud, according to the wise folks at CoinDesk Research.
The recovery came as the uncertainty from the Trump-Musk spat, which had folks selling off like it was a fire sale, began to fade into the sunset.
Meanwhile, BNB Chain is looking spry! Daily active users have jumped 26.4% to a whopping 1.2 million, and revenue in Q1 2025 has grown 58% from the previous quarter to $70.8 million, as reported by Messari. Who knew crypto could be so profitable?
Technical charts reveal that BNB hit a wall around $657 after a flurry of buying at the $650 mark. Now, traders are keeping a keen eye on that critical pivot at $654, all while waiting for the U.S. inflation data to drop like a hot potato this Wednesday.
And let’s not forget, Binance is not resting on its laurels. Its June 9 hackathon has opened new tracks in decentralized science and physical infrastructure. Innovation is the name of the game, folks! 🎩💰
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2025-06-09 19:31